'It is a pleasure to present one of the best players in his
position in the world,' said Valencia president Juan Bautista
Soler after the international had signed a six-year deal with
the Primera Liga side.

'I have had to endure some very tough moments in the last
few weeks,' said Joaquin. 'But this reception makes up for
everything.'

The deal had been expected to go through last week but
Betis's majority shareholder Manuel Ruiz de Lopera delayed it
until he received the necessary payment guarantees and his side
had played their opening league match against Valencia.

Although neither team revealed the terms of the deal,
Spanish media reported that Valencia had paid a club-record fee
of around 25 million euros for the Spain international.

The deal makes Joaquin the second most expensive signing of
the close season in Spain behind Mali midfielder Mahamadou
Diarra who joined Real Madrid for an estimated 26 million euros
last week.

It brings Valencia's spending since the end of last season
to in excess of 45 million euros. They have also brought in
strikers Fernando Morientes and Francesco Tavano and left back
Asier del Horno.

Joaquin, who has won 42 caps for Spain and was part of the
squad for the World Cup, graduated to the Betis first team from
the reserves in 2000 when the club was in the second division
and has been a favourite with the fans ever since.

He played a key role in helping the Andalucians to victory
in the King's Cup in 2005 and in qualification for last season's
Champions League.

The winger made a tearful farewell to the club's supporters
at a news conference in Seville earlier on Monday.

'I would like to thank the fans because I owe them
everything,' he said. 'I have had six years here and I have had
some fantastic experiences that I never expected to have. I have
felt like an idol, a star and you feel that very deeply.

'If any Betis fans feel hurt by my departure I would like to
apologise, but I felt that my cycle at the club had finished and
like any employee I wanted to look for something new. It was an
honour that a club like Valencia wanted to sign me.'

Valencia have qualified for the group phase of the Champions
League where they have been drawn against AS Roma, Olympiakos
and Shakhtar Donetsk in Group D.